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subject contribution. Mr. Stussy made the contribution through
the Trust, which was a grantor trust at that time.
Even if it later became a split-interest trust, petitioner
would not be entitled to the charitable deduction carryovers in
question. As the Trust's grantor, the Code required Mr. Stussy
to report its tax attributes, see sec. 671; see also sec. 1.671-
2(c), Income Tax Regs., one of which pertained to the charitable
contribution. It is undisputed that the Code gave Mr. Stussy the
right to deduct the charitable contribution subject to the
percentage limitations set forth in section 170(b). See sec.
170(a) and (b). To the extent that these limitations prevented
Mr. Stussy from deducting currently any part of the contribution,
which they did, the Code gave Mr. Stussy the right to carry over
the excess for up to 5 years. See sec. 170(d)(1). The Code did
not give petitioner the right personally to use the excess that
remained upon Mr. Stussy's death. See also sec.
1.170A-10(d)(4)(iii), Income Tax Regs. (taxpayer not entitled to
deduct the excess charitable contributions of his or her deceased
spouse). We conclude that petitioner is not entitled to deduct
the carryovers. We hold for respondent on this issue.
Respondent also determined that petitioner was liable for an
accuracy-related penalty under section 6662(a) for each year
because he substantially understated his 1992 and 1993 income
tax, see sec. 6662(d), and his 1994 understatement was due to
negligence or disregard of rules and regulations, see sec.
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